BUSINESS & INDUSTRYBusiness Incentives
Business and Industry Information
State Tax Information - Tax Credit AdministrationThe North Carolina Department of Revenue (NCDOR) administers the state tax credits. They can also answer questions on Corporate Tax Law and information on Corporation Income Tax and other Tax Information. The North American Industry Classification System (NAICS) has replaced the U.S. Standard Industrial Classification (SIC) System. This website provides a complete NAICS code listing, instructs how to change a SIC code to a NAICS code, get codes or statistical data for specific company, and much more.
Business Startup, Financing and Registration InformationInformation in this section includes:
The North Carolina Department of Commerce (NCDOC) offers and administers a number of financial incentives to qualified new and expanding business and industry to lower a company's cost of doing business. There are financial programs for the purchase of land and construction of buildings. Certain tax credits are available for job creation, purchase of equipment and machinery, and for worker training, etc. The North Carolina Finance Center (NCFC) provides a "one-step" financial center where relocating and existing employers can come to learn of the financing alternatives available in North Carolina. The NC Commerce Department Business ServiCenter provides a one-stop office for companies interested in gaining state assistance in helping identify barriers to success. This office provides information about existing programs and resources designed to improve a company's profitability. They offer an overview of financial resources and special loan programs and the appropriate contacts that are available to small businesses and entrepreneurs. They can also guide a company to appropriate service providers on the state and its partners. The Small Business Administration offers free counseling and information on starting a business through the Service Corps of Retired Executives (SCORE) and growing a business through the Small Business & Technology Development Centers (SBTDC) network of consulting services. They provide financial assistance for new or existing businesses and assist businesses owned and controlled by socially and economically disadvantaged individuals. North Carolina Secretary of State's mission is to serve and protect citizens, the business community and governmental agencies by facilitating business activities, by providing accurate and timely information and by preserving documents and records. Corporations Division: This website, maintained by the Division of the Secretary of State's Office, offers guidelines to incorporating, fee schedules, printable corporation forms, and much more. This office also examines and maintains legal documents filed by more than 400,000 corporations, limited partnerships, and limited liability companies. Qualified Business Tax Credit Program - Investors may obtain tax credits based on money invested in qualified business ventures and in qualified grantee businesses. NC Dept. of Labor - A new business information packet can be obtained through this web site for businesses that have recently opened or are getting ready to open in North Carolina that employ more than 5 workers.
NC Location Incentives for New and Expanding Business and IndustryNorth Carolina imposes no tax on business inventories, and there is no state property tax on equipment or real property. North Carolina offers free customized job training and retraining for manufacturing companies employing 12 or more workers. The North Carolina Department of Commerce assigns an Economic Development Representative to companies locating in North Carolina who assists with financing, buildings, environmental permits, labor demographics and visits to the state. Tax Savings - North Carolina does not tax sales made in other states; corporate income tax is 6.9%. North Carolina has no local or state property tax on inventory, no local or state sales taxes on custom computer programs or property tax on software, exempts equipment used for pollution control from property tax, allows companies to amortize over 60 months equipment required by OSFA or for the reduction of hazardous waste. Business Energy Loans - The State's Business Energy Loan program provides loans between $100,000 and $500,000 to industrial and commercial businesses located or moving to North Carolina. Loans can be financed for up to 7 years at interest rates equal to 50% of the average (high or low) T-bill rate for the past year or 5%, whichever is lower. Current rate is 5% which is the maximum. Funds are provided from a pool of $2.5 million designated for energy related capital improvement s such as co-generation, energy savings motors, boiler improvements and low energy use lightning. Loans are processed on first-come-first-serve based upon the date of receipt of a letter of credit by a participating bank. The Department of Transportation Road Access Fund provides funds to build roads to new or expanding industry. The Department of Transportation Rail Access Fund provides grants to construct or rehabilitate railways.
Small Business LoansThe Neuse River Development Authority, Inc. is a highly successful small business finance agency located in New Bern and serving many eastern NC counties by providing a range of different kinds of loans. Service Corps of Retired Executives (S.C.O.R.E) - "Counselors to America's Small Business" is the best source of free and confidential small business advice to help you build your business--from idea to start-up to success. Counselors are on hand each Wednesday and by appointment at the Commerce Development Center located at 3615 Arendell Street, Morehead City, NC or by phone at (252) 222-6125. SELF-HELF - Creating Ownership and Economic Opportunity. Self-Help is a community development lender providing financing to small businesses, home buyers and non-profits. North Carolina Rural Economic Development Center, Inc. - Business Loan Programs. The Rural Centers runs two innovative programs that provide capital for business start-ups and expansions. The Microenterprise Loan Program serves the smallest rural businesses through a combination of loans, business planning and technical assistance. The Microenterprise Loan Program has a microentreprise loan coordinator located at the Commerce Development Center - 3615 Arendell Street, Morehead City. For more information you may contact Betsy DeCampo at decampob@carteret.edu or (252) 222-6116. The Capital Access Program serves small-to-medium sized businesses and is operated through local lending institutions. North Carolina Department of Commerce - Financing Your Business. This site lists organizations that might help with funding. NC IDEA - Innovative Development for Economic Advancement supports business innovation in North Carolina to ensure success of businesses by infusing entrepreneurial companies with needed capital and support, such as, providing grants, loans and traditional venture funding. They also offer strategic partnerships and alliances to assist entrepreneurs through research phases, business challenges, and growth goals. United States Small Business Administration (SBA) - The SBA maintains and strengthens the nation's economy by aiding, counseling, assisting and protecting the interests of small businesses and by helping families and businesses recover from national disasters. SBA also supports entrepreneurial development through a vast network of resource partners. SBA: Small Business Administration - North Carolina Office - Resources for start-ups and existing business needs. North Carolina Technological Development Authority (TDA) - a public benefit corporation whose mission is to create jobs and wealth throughout North Carolina using business incubation, venture capital, technology transfer and rural initiatives to commercialize promising business opportunities. The TDA funds small business incubators and operates one in the Research Triangle Park. It has launched a venture-capital fund and has helped establish others. The Foundation Center, founded in 1956 is the nation's leading authority on philanthropy and is dedicated to serving grantseekers, grantmakers, researchers, policymakers, the media, and the general public. Active Capital - The Evolution of Private Equity Investing. The SBA created the Angel Capital Electronic Network (ACE-Net) to express more accurately its proactive role in helping small businesses connect with capital.
Business and Industry ResourcesThe North Carolina Community College System- Preparing North Carolina's World-Class Workforce - Economic & Workforce Development. Their mission is to support NC's community Colleges' efforts to provide high quality, accessible training and services that enable North Carolinians to acquire knowledge and skills to obtain and maintain prosperous career opportunities and enhance their quality of life, and; provide North Carolina with a world-class workforce and a competitive advantage as a result of their presence in North Carolina. North Carolina Community College System Small Business Centers Network - Providing free counseling, seminars, and resource materials to potential and existing small business owners in an effort to increase the success rate and number of viable small business in North Carolina by fostering and supporting entrepreneurship, small business training and economic development in local communities. A series of small business round tables are conducted throughout the county. For more information, contact John Smith, Director of Business Development with Corporate and Community Education, Carteret Community College located at the Commerce Development Center, 3615 Arendell Street, Morehead City. Mr. Smith may be contacted by phone at (252) 222-6127 or email at jms@carteret.edu. North Carolina Employment Security Commission - Their mission is to help businesses in North Carolina fill job openings with qualified workers. The division helps employers solve problems relating to work recruitment, testing, selection and development. Staff also can provide extensive labor market information and training on human resource topics. Local office is located at 309 Commerce Avenue, Morehead City - (252) 726-7151. Operation Transition and the Transition Bulletin Board - This new Department of Defense program is designed to link employers with highly trained, dedicated, disciplined, motivated, skilled, and qualified job seekers separating or retiring from all branches of the military and the Federal government along with their spouses in every job category and every level of experience. The TBB is a database of job want ads and useful career information on these individuals located around the world. On average, more than 10,000 want ads representing over 30,000 jobs can be viewed on EBB every day. Employment Laws - This US Department of Labor website is an interactive tool that provides information about Federal employment laws. NC Small Business and Technology Development Center (SBTDC) - provides management counseling and educational services to help North Carolina businesses meet challenges, manage change, and plan for the future. Carteret County is served by the SBTDC office in Greenville, NC. Most of their services are free and all SBTDC services are confidential. N.C. Rural Economic Development Center - where you can find information on local, state and national organizations that provide vital services to North Carolina's rural communities. These organizations offer a wide range of programs, including grants, loans, data services, technical assistance, publications, conferences, training programs and electronic information. Industrial Extension Service - Based in the College of Engineering at N.C. State University, this agency provides technical and industrial management assistance to companies. Their aim is to help your business increase efficiency, productivity, quality, and, as a result, profits. The website describes extensive products and services for continuing education; industrial and solar energy; environmental, safety, and health management; lean enterprise; construction; and quality. MCNC - This private non-profit corporation offers advanced electronic and information technology resources to business, government, and universities to provide competitive advantages in the marketplace. Thomas Register - This is a comprehensive online resource for finding companies or products manufactured in North America where you can order online, view CAD drawings, and get links to company websites and catalogs. You have to register, but there is not charge. Council for Entrepreneurial Development (Research Triangle Park) - A private, non-profit organization providing training and networking opportunities. CED hosts an annual conference to link companies with venture capitalists. North Carolina - Waste Trader - North Carolina's marketplace for discarded or surplus materials and products. This waste exchange service is designed to divert recoverable materials from disposal while providing feedstock's and supplies to potential users. The Occupational Safety and Health Division (OSHA) website of the U.S. Department of Labor contains compliance manuals, standards information, miscellaneous publications, statistics and free consultation request forms. NC Department of Labor (NCDOL) - Occupational Safety & Health Division - administers a broad scope on workplace safety and health laws. NC Department of Labor OSH regulations - offers training and technical assistance through its Education, Training and Technical Assistance (ETTA) Bureau. Free aid is available including telephone assistance or on-site visits. The US General Services Administration can help with equal employment opportunity questions. U.S. Department of Labor - Employment Laws - provides easy-to-understand information about a number of Federal employment laws.
Environmental Permits, Licenses and CertificationsThe North Carolina Department of Environment and Natural Resources (DENR) issues One-Stop Environmental Permits. For information on Permits, Licenses and Certification or environmental questions, contact the DENR Customer Service Center (CSC). The CSC is a single source of information for all of the Department's programs. Information in this section includes:
One Stop Permit Customer Service Center - DENR now has a one-stop permit information and coordination program to provide assistance on state and environmental permits. The CSC helps customers determine what environmental permits they need for a particular project as well as permit decision timelines.
Doing Business with the Government/MilitaryMILITARY The North Carolina Military Business Center was formed in 2004 to help gain an edge in securing military contracts. There is a local office in Craven County located at Craven Community College. The NCMBC is a collaborative effort between NC businesses and industry and the NC Community College system to increase military business for existing NC companies, to integrate transitioning military personnel and family members into the workforce, and to support recruitment and development of defense related businesses in North Carolina. Matchforce matches North Carolina businesses to government contr5acts, government purchases to NC suppliers, and job seekers to NC jobs. Businesses, contracting officers, cardholders and job seekers can register, post, search and receive opportunities. The Procurement Technical Assistance Center assists North Carolina businesses - including disadvantaged, veteran, and woman-owned businesses - in obtaining and performing under Federal, state, and local government contracts. Assistance is also provided in selling to state and local governments in North Carolina. FEDERAL GOVERNMENT How to do Business with the Federal Government North Carolina State Government E-Procurement combines the use of the Internet technology with procurement best practices to streamline the purchasing process and reduce costs. If offers the opportunity to electronically market a company and their products and services to a statewide audience of public sector buyers. You must be a registered E-Procurement Vendor and their web site will provide all information needed to get started.
North Carolina - Business Tax InformationCorporate Income Tax
State and Tax use
Finance Tax
Inventory Tax
Property Tax
Unemployment Insurance Rate
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Carteret County Economic Development Council - 3615 Arendell Street - Morehead City, NC 28557
Phone: 252-222-6120, 1-800-462-4252 - Fax: 252-222-6124